The Entry to Record the Payment of Salaries to Employees

question 36

Multiple Choice

The entry to record the payment of salaries to employees would include a:

• A)credit to Salary Expense.
• B)debit to Accounts Payable.
• C)debit to Salary Expense.
• D)debit to Accounts Receivable.

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Definitions:

Wickard V. Filburn

A landmark Supreme Court decision in 1942 that broadly interpreted the federal government's authority under the Commerce Clause, impacting agricultural production and regulation.

Interstate Commerce

Economic activities or transactions that cross state lines, regulated by federal laws to ensure fair and consistent standards.

Lockup Agreement

A contract between a company's insiders and underwriters that prohibits the sale of shares for a specified period following an initial public offering.

Greenmail

A tactic where a company buys back its own shares at a premium from a hostile party to prevent a takeover.